TOEFL stands for Test Of English as a Foreign Language (Educational Testing Service) Suggest new definition. This definition appears very frequently and is found in the following Acronym Finder categories: Organizations, NGOs, schools, universities, etc.
Not only do they allow for co-signer(s), but they allow for non-occupying co-borrowers. FHA requires a co-borrower to be a near relative i.e. parents, aunt or uncles, cousins, etc.The good news is that FHA does not require co-borrowers to live with you where other types of loan require that borrowers and co-borrower co-habitat.In simple terms, we lenders calculate the combined income and the debts of all borrowers/co-borrowers to determined your qualification.he good news is that FHA does not require co-borrowers to live with you where other types of loan require that borrowers and co-borrower co-habitat. In simple terms, we lenders calculate the combined income and the debts of all borrowers/co-borrowers to determined your qualification.
Federal loans (such as the Stafford loan) are not based on your credit history. You will not need a co-signer, or good credit. With private loans there is no way around needing a good credit history. The co-sign part is just so the lending institution knows they can go to the parent if the student defaults on the loan. 2  It is impossible to get a student loan without a co-signer even if the co-signer makes over $19,000 as another person as suggested.